أشرف العايدي على العربية -- 17 يوليو 2012

Bernanke resorts to the familiar method of reiterating the Fed's willingness to do more if required by the labour market without necessarily signalling any imminent action. Euro is the biggest victim of Bernanke's silence, losing nearly a full cent to reach $1.2205 after Bernanke's text hit the wires. The single currency faces increasing macro, fiscal and structural challenges deemed required to extend its decline below $1.20 and towards the $1.18 levels of 2 years ago when Eurozone problems were far less pronounced than they are today. Short of an aggressive round of outright asset purchases from the Fed and a 3rd LTRO (this time at 0.75%), the single currency's days above $1.20 may become numbered. The question then remains, to what extent will any central bank-driven euro bounce remain short-lived? And with a stimulus package from China becoming more imminent, chances for coordinated global interventions become inevitable.